Mark Zuckerberg Becomes World's Third Richest Person as Facebook Stock Soars


Mark Zuckerberg jumped ahead of Berkshire Hathaway CEO Warren Buffett in the ranklings of the world's richest persons.

Zuckerberg's rise in the ranking has been driven by investors who continued to embrace Facebook despite a data-privacy crisis that caused the company's shares to slide to an eight-month low of $152.22 on March 27.

Warren Buffett, chairman and CEO of Berkshire Hathaway, meanwhile, has a net worth of about $81.1 billion.

Almost all of Zuckerberg's wealth is tied up in the shares and last week's spike inched him past Buffett ($81.2bn), according to the Bloomberg Billionaires Index, though he still lags behind Amazon's Jeff Bezos ($141bn) and Microsoft's Bill Gates ($93bn).

"You may have heard about a quiz app built by a university researcher that leaked Facebook data of millions of people in 2014", the ads signed by Zuckerberg read.

As per a Fortune report, investors are loving Facebook and are happy at the news that Facebook has made its biggest sports streaming deal yet with the Premier League. Since then, the tech giant has made a remarkable recovery, with its shares closing at an all-time high of $203.23 on Friday. The report noted that this is the first time when the three wealthiest people on the list built their vast wealth in the field of technology.

Buffett, once the world's wealthiest person, is sliding in the ranking thanks to his charitable giving, which he kicked off in earnest in 2006. Overall, the sector has contributed about one-fifth of the $5 billion in wealth tracked by the index, Bloomberg reported. Zuckerberg and his wife, Priscilla Chan, have pledged to give away 99 percent of their Facebook stock over their lifetimes.